Ethereum price has staged a fresh increase, climbing above the $2,320 mark. The second-largest cryptocurrency is now trading above that level and the 100-hourly Simple Moving Average, suggesting near-term bullish momentum. A bullish trend line forming on the hourly chart with support at $2,320 is adding to the positive structure.
The $2,385 resistance test
Immediate resistance is near $2,385, which aligns with the 76.4% Fibonacci retracement level of the recent decline. If ETH clears that, the next major hurdle sits at $2,400, followed by $2,420. A decisive move above $2,420 could open the door to $2,480, then $2,550 or $2,565.
Support levels to watch
If Ethereum fails to push through $2,385, a pullback could find initial support at $2,320. The bullish trend line offers additional defense near that same level. A drop below $2,300 would weaken the setup, with the next supports at $2,265 and $2,220. The main floor sits at $2,200.
Momentum and oscillator readings
The MACD for ETH/USD is gaining momentum in the bullish zone, while the RSI holds above the 50 mark. Both indicators point to continued short-term strength, though traders are watching whether volume can support a break above $2,420.
